{"id":32601,"date":"2021-07-06T11:59:51","date_gmt":"2021-07-06T06:29:51","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=32601"},"modified":"2021-07-06T12:04:47","modified_gmt":"2021-07-06T06:34:47","slug":"ventures-for-exim-business-in-india","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/ventures-for-exim-business-in-india\/","title":{"rendered":"Top 5 Ventures for EXIM Business in India"},"content":{"rendered":"\n<p class=\"has-drop-cap\">India is a promising destination for businesses and marketers across the globe. In the past few years, excluding the COVID-Era, India\u2019s global trade has witnessed tremendous growth owing to the ever-evolving demand for Indian commodities. Many aspiring entrepreneurs and start-ups are eyeing this as a great opportunity to venture into an EXIM business. But the million-dollar question is which commodity is suitable to target in this regard. This write-up will make you aware of some trending ventures that adhere to great growth potential from the global trading standpoint. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/ventures-for-exim-business-in-india\/#Commodities_that_are_quite_popular_in_the_EXIM_business_landscape\" >Commodities that are quite popular in the EXIM business landscape<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/ventures-for-exim-business-in-india\/#Reasons_for_opting_EXIM_business_in_India\" >Reasons for opting EXIM business in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/ventures-for-exim-business-in-india\/#Inherent_setbacks_of_an_EXIM_business\" >Inherent setbacks of an EXIM business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/ventures-for-exim-business-in-india\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Commodities_that_are_quite_popular_in_the_EXIM_business_landscape\"><\/span>Commodities that are quite popular in the EXIM business landscape <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>The section below briefs out the type of\ncommodities that are quite popular in the EXIM business landscape. <\/em><\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/07\/EXIM-business-landscape.png\" alt=\"EXIM business landscape\" class=\"wp-image-32607\" width=\"486\" height=\"486\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/07\/EXIM-business-landscape.png 998w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/07\/EXIM-business-landscape-150x150.png 150w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/07\/EXIM-business-landscape-300x300.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/07\/EXIM-business-landscape-768x769.png 768w\" sizes=\"(max-width: 486px) 100vw, 486px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Clothing <\/h3>\n\n\n\n<p>The apparel sector is an essential sector for\nIndia\u2019s export. Its contribution stood at 6.5% of the country\u2019s overall\ncommodity export and nearly 47% of total textile and apparel export. Apparel\nexport is the 3rd largest products exported from our nation and it is a\nprominent job creator for the nation. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Seafood export<\/h3>\n\n\n\n<p>The Indian Seafood industry has undergone a massive\ntransformation with an ever-growing footing in the global market.&nbsp; India is a front-runner in the Global Seafood\nmarket for the following reasons; <\/p>\n\n\n\n<ul><li>Availability\nof world-class production facilities <\/li><li>Complete\nadherence to global standards <\/li><li>Diversified\nrange of products including crab, lobsters, &amp; other kinds of fish. Shrimp\nstill tops the chart in terms of overall exports. <\/li><\/ul>\n\n\n\n<p>For years, American and Japanese markets have\nremained the top destination for India\u2019s seafood export. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Handicrafts export <\/h3>\n\n\n\n<p>Handicrafts are the prominent highlighter of\nIndian culture, tradition, and heritage. Also, this sector is the biggest hub\nof employment which embraces both skilled and unskilled laborers. After dented\nby ongoing pandemic, the handicraft sector is now picking up the pace as the\nglobal demand for the same is slowly coming back on track. <\/p>\n\n\n\n<p>Handicraft exports\u00a0increased by 6.44% y-o-y during 2018-19 with a total valuation that stood at US$ 3.80 billion. During Apr-Nov 2019, export valuation stood at US$ 2.45 billion. During this timeframe, the export of various segments such as crocheted goods and woodwares stood at US$ 389.69 million and US$ 518.19 million respectively.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/what-is-the-iec-registration-process-in-india\/\">What is the IEC Registration Process in India? <\/a><\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Import of Pearl, precious and semi-precious stones <\/h3>\n\n\n\n<p>Indian import of precious stone posted the\ntotal valuation at %33 billion in 2017-18. India has imported nearly 14 billion\nworth of products in the period of 10 months (April 2020-Feb 2021). Semi-precious\nstones and precious stones accounted for 97% of the overall import valuation\nwhile natural pearls made up 2.25 percent. The American market has remained\nIndia\u2019s prominent supplier, following by some Asian nations such as Singapore,\nHongkong, and China. <\/p>\n\n\n\n<p>India is a leading importer of rough diamonds,\nwhich made up 54% of its overall gems and jewelry imports in FY 2019-20. <\/p>\n\n\n\n<p>India is also acknowledged as a world leader in the diamond cutting &amp; polishing business. The majority of the rough diamonds imported to our country are largely processed in Surat, <em><strong>Gujrat<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Gujarat\"><em><strong>[1]<\/strong><\/em><\/a><\/sup>. <\/p>\n\n\n\n<p>Once polished, the finished diamonds are then\nexported abroad. 3\/4th of the world\u2019s polished diamonds are shipped to other\nnations from India. In 2019-20, the country posted $18.66 billion worth of\npolished and cut diamonds. \u200d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Import of Telecom instruments <\/h3>\n\n\n\n<p>Another leading contributor to Indian imports\nof electronic commodities is telecom equipment.&nbsp;\nIts share in electronic goods imports thrives 10% in 2011-18 as per\nReserve Bank. The ever-growing demand for telecom commodities in India is met\nby imports. <\/p>\n\n\n\n<p>While China is the global leader in importing\noffice and telecom gear, it is also a leading supplier of the same to our\nnation. <\/p>\n\n\n\n<p>Smartphone components have been the leading\ndriver of telecom gears import since 2015-16. In FY 2019-20, the total\nimportation value of India\u2019s smartphone component imports were stood at Rs\n56039 crores. <\/p>\n\n\n\n<p>At the same period, the import of smartphones\nhas encountered negative growth. This is primarily due to the push for local manufacturing\nunder the Make in India program prohibition on some Chinese smartphones and the\ninculcation of stringent quality norms for Chinese-made telecom instruments. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reasons_for_opting_EXIM_business_in_India\"><\/span><strong>Reasons for opting EXIM business in India <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Ever-evolving\nglobal demand for Indian products for exporting business <\/li><li>Opportunities\nfor importers to gain a competitive edge by amassing demanding and unique\nproducts from abroad<\/li><li>Ensures\naccess to the cheapest raw material which is costly in India. This will\neventually help importers to grow and enable manufacturers to produce goods at an\naffordable rate.<\/li><li>Availability\nof several government schemes that promote global trading in India. <\/li><li>More\nstable than local business due to consistent demand throughout the year. <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Inherent_setbacks_of_an_EXIM_business\"><\/span><strong>Inherent setbacks of an EXIM business <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>The\ncompulsion to ensure conformity with foreign trade policies <\/li><li>Tedious\nShipment Inspection at various stages<\/li><li>Payment\ntransaction takes longer time than usual<\/li><li>Complexand\nheaps of paperwork for the shipping process <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>EXIM business is full of potential despite the avalanche of legal requirements and compliances. Anybody who seeks to venture into global trading must be aware of underlying legalities and compliances to avoid any trouble while executing the business operations. <a href=\"https:\/\/corpbiz.io\/iec-registration\"><strong>Import Export Code<\/strong><\/a> is one such requirement for the business owner who wants to engage with global trading. It is practically not possible to avail import-export business without this license. The availment of such a license seeks precise paperwork and utter attention. The application of such a license can be made online on the DGFT portal against standard fees. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/how-to-get-iec-code-in-india\/\">How to obtain IEC Code in India <\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India is a promising destination for businesses and marketers across the globe. In the past few years, excluding the COVID-Era, India\u2019s global trade has witnessed tremendous growth owing to the ever-evolving demand for Indian commodities. Many aspiring entrepreneurs and start-ups are eyeing this as a great opportunity to venture into an EXIM business. But the [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":32622,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[1850],"acf":{"service_id":"16"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":4276,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/32601"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=32601"}],"version-history":[{"count":19,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/32601\/revisions"}],"predecessor-version":[{"id":32624,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/32601\/revisions\/32624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/32622"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=32601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=32601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=32601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}